This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.Need a new registration confirmation email? Click here

NEW YORK (TheStreet) -- Spirit Realty Capital (SRC - Get Report) rose to a high of $11.25 on Thursday after the company priced its secondary public offering of 23 million shares at $10.69 a share.

The company also priced $650 million in convertible senior notes, with $350 million of its 2.875% convertible senior notes due in 2019 and $300 million of its 3.75% convertible senior notes due in 2021.

Ladenburg also upgraded Spirit Realty Capital to "buy" from "neutral" and set a $12.50 price target. The firm noted its expectations for a guidance increase and higher earnings quality following the company's recent capital raise.